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<br />selected; provided, however, that only so much of the principal <br />amount of each such Bond of a denomination of more than $5,000 <br />shall be redeemed as shall equal $5,000 for each number <br />assigned to it and so selected. If a Bond is to be redeemed <br />only in part, it shall be surrendered to the Bond Registrar <br />(with, if the City or the Bond Registrar so requires, a written <br />instrument of transfer in form satisfactory to the City and the <br />Bond Registrar duly executed by the holder thereof or his <br />attorney duly authorized in writing) and the City shall execute <br />and the Bond Registrar shall authenticate and deliver to the <br />holder of such Bond, without service charge, a new Bond or <br />Bonds of the same series having the same stated maturity and <br />interest rate and of any authorized denomination or <br />denominations, as requested by such holder, in aggregate <br />principal amount equal to and in exchange for the unredeemed <br />portion of the principal of the Bond so surrendered. <br />American National Bank and <br />6. Trust Company , in St. Paul <br />Minnesota is appointed to act as bond registrar and transfer <br />agent (the "Bond Registrar") and shall do so unless and until a <br />successor Bond Registrar is duly appointed, all pursuant to any <br />contract the City and Bond Registrar shall execute which is <br />consistent herewith. The Bond Registrar shall also serve as <br />paying agent unless and until a successor paying agent is duly <br />appointed. Principal and interest on the Bonds shall be paid <br />to the registered holders (or record holder) of the Bonds in <br />the manner set forth in the form of Bond and paragraph 12 of <br />this resolution. <br /> <br />7. The Bonds to be issued hereunder, together with <br />the Bond Registrar's Certificate of Authentication, the form of <br />Assignment and the registration information thereon shall be in <br />substantially the following form: <br /> <br />4 <br />